Disney has reported earnings for its first fiscal quarter ended 28 December 2024, with revenue up 3 percent in the theme parks division.
In the Disney Experiences segment, revenue increased year-over-year from $9.1 billion to $9.4bn. Operating income was comparable to the first quarter (Q1) of last year at $3.1bn.
Operating income declined by 5 percent at Disney’s US parks due to two hurricanes and higher costs amid Disney Cruise Line’s expansion, including the December debut of the new Disney Treasure cruise ship.
However, operating income at Disney’s international parks and experiences increased by 28 percent compared to the prior-year quarter. This was due to higher attendance.
“Our Q1 results for our experiences segment demonstrated Disney’s strong and enduring appeal in family travel,” Disney CEO Bob Iger and CFO Hugh Johnston said.
“We continue work on a robust slate of new projects as we bring our most popular IP to life in innovative ways and execute against a carefully designed and planned investment strategy.
“We also remain deliberate about pricing and the guest experience, and are focused on providing guests great value with a vast array of options to visit our theme parks.”
Disney plans to spend $30 billion on its theme parks over the next decade as part of a total $60bn investment in its parks, experiences and products division.
Disney Experiences: $60bn investment
Projects include a major expansion of Disney Cruise Line, which will double the size of its current fleet by 2031, as well as new lands at Walt Disney World in Florida.
Highlights in Orlando include a suspended ride recreating the door vault scene from Monsters, Inc. in a new land at Disney’s Hollywood Studios.
Elsewhere, Animal Kingdom is getting a new Indiana Jones attraction and the first ride-through Encanto attraction at a Disney park.
In Magic Kingdom’s villains land, guests will “see storytelling on a grand scale that only Disney can deliver”, said Josh D’Amaro, chairman of Disney’s parks and experiences division.
Images courtesy of Disney
